Chrysler LLC is one of the “Big Three” American automobile manufacturers. It is a consolidated subsidiary of Fiat, which is a multinational automaker. Chrysler Group LLC is the twelfth biggest automaker by production in the world.
Walter Chrysler founded the Chrysler Corporation in 1925, and in 1928 it expanded to include the Dodge, Fargo, Plymouth, and DeSoto brands.
In the 1970s Chrysler was almost in bankruptcy due to factors including the 1973 oil crisis. The company returned to profitability in the 1980s.
In 1987 American Motor Company was acquired by Chrysler, including the Jeep brand.
In 1998 Chrysler merged with Daimler-Benz AG, forming the new company DaimlerChrysler. This move proved unpopular with investors and Chrysler was sold to Cerberus Capital Management in 2007, and renamed Chrysler Group LLC.
Chrysler was hit hard by the crisis of 2008 and received loans of billions of dollars from the U.S. government to prevent them from going under.
Chrysler filed for Chapter 11 bankruptcy reorganization in 2009. It emerged from bankruptcy with Fiat, the U.S. government, the Canadian government, and the United Auto Workers pension fund as principal owners. Fiat gradually acquired shares from other stakeholders and now has majority ownership.
Today Chrysler has over 65,000 employees and had $65.78 billion in revenue in 2012.
ChryslerChrysler LLC is one of the “Big Three” American automobile manufacturers. It is a consolidated subsidiary of Fiat, which is a multinational automaker. Chrysler Group LLC is the twelfth biggest automaker by production in the world.
Walter Chrysler founded the Chrysler Corporation in 1925, and in 1928 it expanded to include the Dodge, Fargo, Plymouth, and DeSoto brands.
In the 1970s Chrysler was almost in bankruptcy due to factors including the 1973 oil crisis. The company returned to profitability in the 1980s.
History
In 1987 American Motor Company was acquired by Chrysler, including the Jeep brand.
In 1998 Chrysler merged with Daimler-Benz AG, forming the new company DaimlerChrysler. This move proved unpopular with investors and Chrysler was sold to Cerberus Capital Management in 2007, and renamed Chrysler Group LLC.
Chrysler was hit hard by the crisis of 2008 and received loans of billions of dollars from the U.S. government to prevent them from going under.
Chrysler filed for Chapter 11 bankruptcy reorganization in 2009. It emerged from bankruptcy with Fiat, the U.S. government, the Canadian government, and the United Auto Workers pension fund as principal owners. Fiat gradually acquired shares from other stakeholders and now has majority ownership.
Today Chrysler has over 65,000 employees and had $65.78 billion in revenue in 2012.